NFA Alerts FCMs and IBs to Updated FATF AML/CFT Deficiencies List

NFA instructed futures commission merchants (or "FCMs") and introducing brokers (or "IBs") to revise their AML programs to reflect the updated Financial Action Task Force ("FATF") list of jurisdictions with strategic AML and Combating the Financing of Terrorism ("AML/CFT") deficiencies. NFA's notice follows a FinCEN advisory outlining changes to the FATF list that may affect U.S. financial institutions' risk-based due diligence obligations concerning the affected jurisdictions (see previous coverage).

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